Conexio consulting

HOUSING SALES TO THE FOREIGNERS IN TURKEY

While the foreigners increased their housing investments with the effect of the campaigns and exchange rates, the number of houses sold in October 2018 increased by 134.4 percent compared to the same month of 2017 and reached to 6.276. In October 2017, 2.677 houses were sold to foreigners.

Within the 10 months of this year, housing sales to foreigners increased by 69.8 percent to 30.431, compared to the same period of the previous year. In the last year, 22.234 houses sold to foreigners in the sector, this number is expected to reach 40.000 at the end of 2018.

The first city preference of foreigners in the purchase of housing is Istanbul, and that did not change in October. In the first 10 months of this year, 10.178 houses were sold to foreigners in Istanbul. Istanbul was followed by Antalya with 6.397 houses, Bursa with 2.167 houses, Yalova with 642 houses, Ankara with 604 houses and Trabzon with 183 houses.

More than half of the houses sold to foreigners are located in Istanbul and Antalya. 33 out of every 100 houses are sold in Istanbul and 21 in Antalya.

According to the nationalities of foreigners in the sale of housing, Iraqi citizens did not leave their first place in October. During this period, the sale of 439 housing units to Iraqis accounted for 23 percent of total sales. In the month in question, the Iraqis followed by the Iranians with 557 housing investments, the Kuwaitis with 378, the Germans with 341 and the Russians with 336.

In the 10 months of this year, the most housing sales done from Turkey was again to Iraqis. In this period, the Iraqis purchased 6.303 houses, Iranians with 2.754 houses, Saudi Arabia with 2.217 houses, Kuwaitis with 786 houses and Russians with 779 houses. Iraq, Iran and Saudi Arabian investors, who shared the first three places, had 37 percent of the total housing sold to foreigners.

Babacan Holding Chairman Ibrahim Babacan said, as well as the rise in foreign exchange prices, facilitating the investment of foreigners in the sector, the new arrangements in this area to ensure a significant acceleration in the sale of housing,.

Mentioning the increase of more than 134% in the sale of housing to foreigners, the existing inventories of melting in the sector provides for the creation, Babacan said “This situation also provides the increase of added value that we offer to the economy and gaining much prestige in terms of our sector on the world scale.”

According to ‘Turkish Citizenship to the housing buyers’ programme, foreign nationals, -with the provision of no military region- has the freedom to get housing from the place he wanted in Turkey. The house with the nationality conditions for foreigners in Turkey has been $ 250,000 since 19.09.2018. In Turkey, foreign nationals who bought a $ 250,000 dollars worth of real estate will be now citizens of Turkey as well as their families. Being the owner of residential area in a country like Turkey, which has a very much alive real estate and  construction industry, is a very good investment method.

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